Retirement Legislation Update April 15, 2024

The House Social Security Subcommittee will hold a hearing on the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) on Tuesday, April 16, 2024, at 2:00 p.m. (Central Time). The hearing will be live-streamed on the committee’s website at gop-waysandmeans.house.gov (available when the hearing begins). For more details, please refer to the hearing advisory.

House Retirement Meeting on Thursday, April 18

• The House Retirement Committee is scheduled to meet on Thursday, April 18 at 9:30 a.m. Two bills that would impact LASERS if passed are on the agenda.
• HB 30 by Rep. Bagley would permit any rank-and-file member, regardless of age or first date of employment, to retire with 25 years of service credit.
• HB 902 by Rep. Melerine provides relative to the voting of shares held by retirement systems based on advice of proxy advisory firms.

SB 1 and HCR 20 Move to House Floor

• SB 1 and HCR 20 were reported favorably in the House Retirement Committee on Tuesday, April 11 and now move to the House Floor.
• SB 1 by Sen. Price specifies, that for transfers between systems, “employer contributions” are defined as only those employer contributions that are actuarially required.
• HCR 20 by Rep. Mike Johnson memorializes Congress to review and eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) by supporting H.R. 82 and S. 597 of the 118th Congress. Similar resolutions have passed in previous sessions.

For in-depth details of legislation and links to watch the meetings live, visit the Louisiana State Legislature website at legis.la.gov.

Please note that meeting schedules and agendas are subject to change.